Influence of sectoral bank credit on India’s industrial production & its economic growth

A country’s economic growth depends on Industrial production. Various Industrial sectors broadly categorized as (Agri, service industry, Manufacturing industry). It is generally perceived that the Manufacturing industry is expected to distribute wealth equally among the labor force. Thus, it is considered one of the crucial factors in making people rise above poverty. The manufacturing sector nearly contributes 30-50% of G.D.P. in countries like Malaysia, Taiwan, Korea, China which is considered to be a significant contribution in pulling the people above the poverty line. In India manufacturing sector contribution towards G.D.P is 18.3%. Currently it has increased by 2.3% which is higher than the last 10-year industrial output by the Manufacturing industry. (manufacturingtodayindia, 2021) The Government of India is also making many contributions, plans, schemes for the upliftment of the industrial sector. India is continuously improving its core competencies. It has now been placed at 43rd position at Global competitiveness score, a positive sign. The current study aims at evaluating Indian Industries performance for the sectoral bank credit during the period 2008-21. For this purpose, the time series data was extracted from Data warehouse of R.B.I and considered for analysis.&nbsp